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Products and Services — Creating a Business Plan

by Scott Jones | August 10, 2023

Creating a Business Plan — Products and Services

Previously, we covered the company description, now we’re going to focus on the products and services section. This part of your business plan should highlight the services your business provides. This includes your pricing, how you fulfil orders, and potential expansion plans.

Your products and services are the bread and butter of your business and should be the centerpiece of your plan. Here are some tips when writing these out:

  • Highlight your features — what makes your business unique
  • Emphasize benefits — why would a customer utilize your services
  • Show off experience — why should someone choose you and your company
  • Write to everyone — keep the language simple and easy to understand
  • Share accolades — what makes you the best (awards, reviews, endorsements, etc.)
  • Mention ownership — share trademarks, copyrights, and/or patents you own

Here’s an example of what your products and services section might look like:

Products and Services Description

ABC Kitchen and Bath provides comprehensive services and materials for kitchen and bath remodels in the Greater Portland area. Jobs can range from minor renovations to full-scale remodels. We offer three levels of renovation, which typically include the following services:

Minor Remodel

Keeps the existing footprint of the kitchen and/or bathroom while providing a fresh, updated look.

  • Cabinet refacing
  • Updated appliances
  • Upgraded vanity, faucet, and toilet
  • Countertops
  • Flooring
  • Lighting
  • Fresh paint/wallpaper

Average Cost: $5,000 – $30,000

Major Remodel

Usually includes a larger overhaul of the space and may incorporate some higher-end finishes.

  • Custom cabinetry
  • New countertops/vanity
  • Upgraded appliances, bathtub, or shower
  • New flooring/tile
  • Custom lighting
  • Fresh paint/wallpaper

Average Cost: $14,000 – $69,000

Upscale Remodel

A large-scale remodel with custom designs and luxury additions.

  • Custom cabinetry/vanity
  • Stone countertops
  • Technology-based appliances
  • Adding shower/tub
  • Upgraded flooring/tile
  • Upgraded/custom lighting
  • Upgraded/custom plumbing
  • Fresh paint/wallpaper

Average Cost: $30,000 – $100,000

Competition

ABC Kitchen and Bath has clear advantages over our primary competitors in the local Portland market, including:

  • Experience going back 40+ years
  • Expertise in bath and kitchen renovation
  • Ability to have both in-person and online consultations
  • Access to use our online design tool as part of the remodel
  • Access to work with a designer for a nominal fee
  • The most comprehensive warranty in the area
  • In-house contractor financing offered to all customers

Future Products and Services

At this point in time, there are no plans to expand our services. We’re looking to further develop our expertise in the local kitchen and bath industry.

We’re always on the lookout for new technologies that can improve both the experience of our team and their customers. We’ll continue to improve the skills and abilities of our contractors to provide quality service and unique options.

Conclusion

Essentially, this section covers the “what” aspect of your business. So, the more detail and information you can add here, the better.

Stay tuned for the next installment of this series, where we’ll explain the marketing portion of your plan.

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Scott Jones

Scott Jones is Vice President, Senior Relationship Manager at Regions | EnerBank. For over ten years, he's focused on helping home improvement contractors sell more projects and make more money. He's worked with hundreds of contractors of various sizes, from $500,000 to $150 million in annual revenue. Before joining EnerBank, Scott spent several years in management roles, including with Pella Windows.